KIBO ENERGY PLC - Issue of Conversion Shares

Issue of Conversion Shares

Kibo Energy PLC (Incorporated in Ireland)
(Registration Number: 451931)
(External registration number: 2011/007371/10)
Share code on the JSE Limited: KBO
Share code on the AIM: KIBO
 ISIN: IE00B97C0C31
(“Kibo” or “the Company”)

Dated: 02 September 2020

                           Kibo Energy PLC (‘Kibo’ or the ‘Company’)
                                   Issue of Conversion Shares

Kibo Energy PLC ("Kibo" or the "Company"), the multi-asset, Africa focused, energy company has
today issued 19,173,412 shares (the “Conversion Shares”) to a lender who has elected to convert funds
advanced as part of the first tranche of funding of £300,000 (“Facility Drawdown”) as permitted per the
terms of the funding facility for up to £1 million announced on the 25 June 2020 (the “Facility”). The
Facility Drawdown was announced by the Company on 5 August 2020. The Conversion Shares were
issued at a price of £0.002347 each being the 5-day VWAP less 10% at 2 September 2020 representing
re-payment by the Company of a further £45,000 of the Facility Drawdown. Together with the
conversion shares issued on 24 August 2020, the Company has now converted £150,000 of the Facility
Drawdown to Kibo shares.



Total Voting Rights

Application will be made for the Conversion Shares to be admitted to trading on AIM and the JSE AltX
markets. Trading in the Conversion Shares is expected to commence on AIM and the JSE on or around
8 September 2020 ('Admission'). Following Admission, the Company will have 1,411,975,889 shares
in issue. The foregoing figure may be used by shareholders as the denominator for the calculations to
determine if they are required to notify their interest in, or a change to their interest in, the Company
under the FCA's Disclosure Guidance and Transparency Rules.


This announcement contains inside information as stipulated under the Market Abuse Regulations
(EU) no. 596/2014 ("MAR").

For further information please visit www.kibo.energy or contact:

Louis Coetzee      info@kibo.energy                   Kibo Energy PLC            Chief Executive Officer

Andreas Lianos    +27 (0) 83 4408365                  River Group                Corporate and JSE
                                                                                 Designated Adviser

Philip Adler      +44 (0) 20 7392 1494                ETX Capital Limited        Joint Broker

Bhavesh Patel /   +44 20 3440 6800                    RFC Ambrian                NOMAD on AIM
Stephen Allen                                         Limited

Isabel de Salis / +44 (0) 20 7236 1177                St Brides Partners         Investor and Media
Beth Melluish                                         Ltd                        Relations Adviser

Notes

Kibo Energy PLC is a multi-asset, Africa focused, energy company positioned to address the acute
power deficit, which is one of the primary impediments to economic development in Sub-Saharan
Africa. To this end, it is the Company's objective to become a leading independent power producer in
the region.

Kibo is simultaneously developing three similar coal-fuelled power projects: the Mbeya Coal to Power
Project ('MCPP') in Tanzania; the Mabesekwa Coal Independent Power Project ('MCIPP') in Botswana;
and the Benga Independent Power Project ('BIPP') in Mozambique. By developing these projects in
parallel, the Company intends to leverage considerable economies of scale and timing in respect of
strategic partnerships, procurement, equipment, human capital, execution capability / capacity and
project finance.

Additionally, the Company has a 60% interest in MAST Energy Developments Limited ('MED'), a
private UK registered company targeting the development and operation of flexible power plants to
service the UK Reserve Power generation market.


Johannesburg
02 September 2020
Corporate and Designated Adviser
River Group

Date: 02-09-2020 02:35:00
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